MATTER OF DETERMINING THE INTEREST RATE of GPF,GPF VYAJDAR NAKKI KARVA BABAT
Accordingly, for the employees of the State Government, the interest rate is fixed at the rate of 7.1% from 01/10/2021 to 31/12/2021 on the deposit balance of the general provident fund.
GPF or General Provident Fund is a type of PPF account that is available only for all the government. Basically, it allows all the government employees to contribute a certain percentage of their salary to the General Provident Fund.
Steps to Check GPF Account Balance in Karnataka Online
Click on Know Your GPF Status Button.
Click on Already Registered User Link.
Enter your Series Code, Account Number, Password, and click on the Submit button.
Now select “GPF Account Details” and click on the Submit button.
The Budget Division notification said, “It is announced for general information that during the year 2021-22, accumulation at the credit of subscribers of General Provident Fund and other similar funds shall carry interest rate of 7.1% (seven point one percent) w.e.f. 1st October 2021.”05-Oct-2021
Interest earned on the provident fund corpus is tax-free and no tax is levied at the time of withdrawal, making it an attractive investment option. … Government employees contribute to the general provident fund (GPF) without any employer contribution.
Is gratuity exempt from income tax?
In the case of the former, the entire gratuity amount received on retirement or death is exempt from income tax. In the case of private employees, they are divided as: Private employees covered under the Payment of Gratuity Act of 1972.
How gratuity is calculated?
The formula is: (15 * Your last drawn salary * the working tenure) / 30. For example, you have a basic salary of Rs 30,000. You have rendered continuous service of 7 years and the employer is not covered under the Gratuity Act. Gratuity Amount = (15 * 30,000 * 7) / 30 = Rs 1,05,000.
MATTER OF DETERMINING THE INTEREST RATE of GPF ,GPF VYAJDAR NAKKI KARVA BABAT
GPF નો વ્યાજ દર નક્કી કરવા બાબત